Find the effective annual return friendly earns

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Question: Friendly's Quick Loans, Inc., offers you $6.25 today but you must repay $8.15 when you get your paycheck in one week (or else). What is the effective annual return Friendly's earns on this lending business? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

Reference no: EM131977230

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